New York, NY - October 15, 2024 - Ascension Advisory, a leading advisory firm specializing in sale leasebacks, business transitions, and other strategic corporate finance transactions, has successfully facilitated the sale of Woodcraft Design and Furnishings (“Woodcraft”) to Miami-based private equity firm, Merak Group, marking a significant milestone in the evolution of the Woodcraft business.
Woodcraft is a leading designer and manufacturer of custom furniture for the hospitality industry, with a focus on restaurants, hotels, and hospitality venues. Operating from its Central Florida facility, Woodcraft oversees each project from start to finish, leveraging its advanced CNC technology and expert staff to deliver quality craftsmanship tailored to its client needs.
Ascension Advisory served as the exclusive financial advisor to Woodcraft, guiding the company through the entire sale process. With a deep understanding of the business’s objectives and priorities, Ascension Advisory identified a buyer who honors the founder’s vision and brings new perspectives to support the company’s continued growth.
The sale represents a significant ownership transition for Woodcraft, which has been founder-owned since its inception. The company has grown into a trusted name in the custom hospitality furniture sector, known for its exceptional quality and customer service. With its strong foundation in Central Florida and loyal customer base, Woodcraft is well-positioned to leverage its reputation and capabilities to expand its reach into new markets.
“We are proud to have worked with the team at Woodcraft Design and Furnishings to achieve a successful transaction that will support the company’s long-term success,” said Chelsea Mandel, Founder and Managing Director at Ascension Advisory. “This sale is a testament to the strength of the business and the exceptional leadership behind it. We look forward to seeing Woodcraft continue to thrive under new ownership.”
The Merak Group’s acquisition will provide Woodcraft with the resources and expertise to enhance its operations and tap into new markets. Known for their patient, hands-on investment approach, the Merak team will help drive Woodcraft’s expansion while preserving the company’s core values of quality and customer satisfaction.
The transaction was led by Mijael Attias of Merak Group, who commented “Woodcraft is a really nice, founder-owned business with a ton of potential. Given our operational expertise and capital resources, we are tremendously excited about the opportunity to take the company to the next level.”
About Ascension Advisory
Ascension Advisory is a leading advisory firm specializing in sale leasebacks, business transitions, and other strategic corporate finance transactions. With offices located in New York City, Miami, Toronto, Mexico City, London, and Madrid, we are committed to delivering exceptional client service. Ascension Advisory partners with private equity firms and business owners to craft and execute strategies that align with their long-term objectives. For more information, visit ascensionadvisory.com.
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